Disney will buy most of 21st Century Fox, FCC repeals net neutrality
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In a land to mark deal Disney is buying 21st Century Fox after certain businesses are spot off.
The deal is for $52.4 billion in stock and $13.7 billion in debt So the entire acquisition is in the neighborhood of $66 billion total.
Disney gets 21st Century Fox's film and television studios, cable networks, and international TV businesses.
Disney was quick to point out, this deal also brings the company the film and TV rights to the X-Men universe, Avatar, and the Simpsons Disney is also picking up Fox Sports regional networks which should fit in nicely with Disney's ESPN.
So what didn't Disney get?
Fox Broadcasting Network, Fox News, Fox Business, FS1 and FS2 will live on in a new company that will be spun-ff to 21st Century Fox shareholder The full deal also keeps current Disney Chairman and CEO, Bob Iger, with Disney until 2021.
Iger was originally to depart in July of 2019.
And as expected, the US Federal Communications Commission voted three to two to repeal Net Neutrality rules in place since 2015.
Those regulations ensured that all traffic on the internet were treated equally and prevented broadband and wireless providers from blocking or throttling online content.
The FCC will also be handing over a lot of internet oversight authority to the Federal Trade Commission.
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